Music Broadcast Limited (MBL), the company behind Radio City, has announced significant developments in its corporate structure and legal proceedings.

Chief Innovation Officer Resigns

Alok Barua, the Chief Innovation Officer of Music Broadcast Limited, has tendered his resignation. According to the company's official statement, Barua submitted his resignation letter on July 24, citing his intention to pursue other professional opportunities. His last working day at the company will be September 22.

In compliance with regulatory requirements, MBL has disclosed this information to the stock exchanges. The company stated that there were no material reasons for the resignation beyond the career opportunities mentioned by Barua.

Legal Update: Appeal Against Madras High Court Order

In a separate development, Music Broadcast Limited has provided an update on material litigation. The company has filed an appeal against a Madras High Court order dated August 26. The Division Bench of the High Court has granted a stay on the operation of the single judge's order.

Furthermore, the Division Bench has directed that MBL's appeal be tagged and heard jointly with the matter of Phonographic Performance Limited. This decision suggests a potential connection between the two cases or similar legal issues being addressed.

The interim stay granted by the Division Bench will remain in force until the next hearing date. This development indicates that the original order's implementation is temporarily halted while the appeal is being considered.

Music Broadcast Limited has assured stakeholders that it will provide further updates on any material developments in this legal matter. The company continues to navigate these corporate and legal challenges while maintaining its operations in the radio broadcasting sector.

Investors and stakeholders of Music Broadcast Limited are advised to monitor future announcements for more information on these developments and their potential impact on the company's operations and financial position.

Music Broadcast Limited , the company behind Radio City, has announced the appointment of Ms. Divya Rupchand Karani as a Non-Executive Independent Director for a five-year term. The decision was approved by shareholders at the company's 26th Annual General Meeting (AGM) held on September 17, 2025.

Key Highlights

• Ms. Karani's term will run from July 24, 2025, to July 23, 2030.
• The appointment was based on the recommendation of the Board of Directors.
• Shareholders overwhelmingly approved the appointment with 99.99% votes in favor.

About Divya Karani

Ms. Karani brings a wealth of experience to her new role:

• Extensive background in Communication & Media, Marketing, and Business Leadership.
• Geographic expertise spanning South East Asia, UK, and Asia Pacific.
• Previously served as CEO of Dentsu South Asia Media for 12 years until 2023.
• Currently holds positions as Independent Non-Executive Director on the boards of ZEE Entertainment Enterprises Limited and Jagran Prakashan Limited.

Additional AGM Outcomes

The 26th AGM of Music Broadcast Limited, conducted through video conferencing, also saw the approval of several other resolutions:

1. Adoption of Audited Financial Statements for the year ended March 31, 2025.
2. Confirmation of Interim Dividend payment to Non-Cumulative Redeemable Preference Shares.
3. Re-appointment of Mr. Shailesh Gupta as a director.
4. Appointment of M/s S.N. Dhawan & Co. LLP as Statutory Auditors for a five-year term.
5. Ratification of Cost Auditor's remuneration for the financial year 2025-26.
6. Appointment of Mr. Deepak Rane as the Secretarial Auditor for a five-year term.

All resolutions passed with an overwhelming majority, each receiving over 99.99% votes in favor.

The AGM, which began at 1:00 PM IST, concluded at 2:07 PM, marking a significant day for Music Broadcast Limited's corporate governance and future direction.